Monday, September 24, 2018

SiriusXM to Acquire Pandora For $3.5B

Wow. I was a bit surprised that, considering this will make them the world's largest audio entertainment company, there wasn't more opposition to this. Maybe there was and we just hear about it.

Sirius XM Holdings Inc. (NASDAQ :SIRI ) and Pandora Media, Inc. (NYSE :P ) today announced a definitive agreement under which SiriusXM will acquire Pandora in an all-stock transaction valued at approximately $3.5 billion. The combination creates the world's largest audio entertainment company, with more than $7 billion in expected pro-forma revenue in 2018 and strong, long-term growth opportunities.